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British pound plummets to record low against the dollar



CNN Business
 — 

The British pound fell to a new record low against the US dollar of $1.035 on Monday, plummeting more than 4%.

The slide came as trading opened in Asia and Australia on Monday, extending a 2.6% dive from Friday — and spurring predictions the pound could plunge to parity with the US dollar in the coming months.

The unprecedented currency slump follows British Chancellor of the Exchequer Kwasi Kwarteng’s announcement on Friday that the United Kingdom would impose the biggest tax cuts in 50 years at the same time as boosting spending.

The new tax-slashing fiscal measures, which include scrapping plans for rising corporation tax and slashing the cap on bankers’ bonuses, have been criticized as “trickle-down economics” by the opposition Labour party and even lambasted by members of the Chancellor’s own Conservative party.

Former Tory chancellor Lord Ken Clarke criticized the tax cuts on Sunday, saying it could lead to the collapse of the pound.

“I’m afraid that’s the kind of thing that’s usually tried in Latin American countries without success,” Clarke said in an interview with BBC radio.

The pound has been hammered by a string of weak economic data, but also the steep ascent of the US dollar, a safe haven investment that sees inflows in times of uncertainty.

The euro also hit a 20-year low of 0.964 per dollar.

But the economic outlook in the UK means the pound is suffering more than most, in the face of a disastrous energy crunch and the highest inflation among G7 nations.

The previous record low for the British pound against the US dollar was 37 years ago on February 25, 1985, when 1 pound was worth $1.054.

“Should there be any escalation to the war in Ukraine…we would see further sharp downside in the Pound as well as the Euro,” said Clifford Bennett, chief economist at ACY Securities, an Australian brokerage firm.

“One should not underestimate the crisis that is all of Europe at the moment and the Pound is more vulnerable than most,” he said.

The soaring US dollar also sent major Asian currencies tumbling on Monday.

China’s yuan slid 0.5% on the onshore market to the lowest level in more than 28 months. The offshore yuan fell 0.4%.

The rapid declines prompted the People’s Bank of China to impose a risk reserve requirement of 20% on banks’ foreign exchange forward sales to clients, starting Wednesday. The move would make it more costly for traders to buy foreign currencies via derivatives, which might slow the pace of the yuan’s declines.

Elsewhere in the region, the Japanese yen dropped 0.6% against the dollar to 144. Last Thursday, the Japanese central bank intervened in the currency market for the first time since 1998 to prop up the yen. The yen rebounded slightly following the intervention, but soon resumed the slide.

The Korean won also plunged 1.6% on Monday versus the greenback, falling below the 1,420 level for the first time since 2009.

Stock markets in the region were in a turmoil on Monday, after US stocks sold off on Friday as recession fears grow.

South Korea’s Kospi declined 2.7%, Japan’s Nikkei 225

(N225) dropped 2.4%, and Australia’s S&P/ASX 200 was down 1.4%. China’s Shanghai Composite Index dipped 0.1%.

“Risk sentiments have been dealt a major blow by the Fed’s latest policy action and guidance,” said DBS analysts in a research report on Monday.

The Federal Reserve on Wednesday approved a third consecutive 75-basis-point hike in an aggressive move to tackle white-hot inflation that has been plaguing the US economy.

Even without the Fed action, Europe is looking at a recession due to the war in Ukraine, and China is looking at “a substantially weak growth dynamic” because of a variety of domestic factors, the DBS analysts said.

“Add on top of that a sharp decline in US dollar liquidity and sharply higher US interest rates, the world economic outlook looks particularly precarious,” they added.

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Liz Truss defends controversial tax cuts as pound falls

Truss told Tapper that by cutting taxes, her government was “incentivizing businesses to invest and we’re also helping ordinary people with their taxes.”

While the cuts were expected, critics warn that they will be more beneficial for the wealthy than the majority of British society. Shortly after Truss’s finance minister, Kwasi Kwarteng, announced the cuts on Friday, the pound sank almost 2.6% to its lowest level against the US dollar since 1985.

The UK Treasury said that the cuts, which include slashing the top rate of income tax to 40% from 45%, reductions in duties paid on house purchases, and the cancellation of a planned hike in business taxes, would wipe £45 billion ($50 billion) off government revenues over the next five years.

Pressed on the responsibility of her economic plan, Truss told Tapper: “I don’t really accept the premise of — premise of the question at all. The UK has one of the lowest levels of debt in the G7, but we have one of the highest levels of taxes. Currently, we have a 70-year high in our tax rates.”

Despite the hit to public revenue, Truss confirmed in the interview that her government would still help citizens with energy bills this winter.

“We’ve also put in place a package of measures to support consumers with energy prices, to make sure that nobody is having to pay more than £2,500 on their bills.”

The pledge to help Britons pay their energy bills comes ahead of what is predicted to be a brutal winter. Inflation rose above 10% in July for the first time in 40 years, driven by the rising cost of energy and food. Household energy bills have already risen 54% this year and could go even higher.

Truss has also been criticized for making this pledge while refusing to tax energy companies for their windfall gains. The government will instead rely on borrowing to cover the cost, which the opposition has described as putting the cost on the nation’s credit card.

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Russia artillery and air strikes pound eastern Ukraine targets

  • Russia steps up strikes at Ukrainian civilian targets -Britain
  • Ukraine says graves found near Izium, relatives search for dead
  • Biden urges Putin not to use tactical nuclear, chemical weapons
  • Main power line restored at Zaporizhzhia nuclear plant – IAEA

IZIUM, Ukraine, Sept 18 (Reuters) – Russia has widened its strikes on Ukrainian civilian infrastructure in the past week following setbacks on the battlefield and is likely to expand its target range further, Britain said on Sunday.

Ukrainians who returned to the northeastern area retaken in Kyiv’s lightning advance earlier this month were searching for their dead while Russian artillery and air strikes kept pounding targets across Ukraine’s east.

Five civilians were killed in Russian attacks in the eastern Donetsk region over the past day and in Nikopol, further west, several dozen residential buildings, gas pipelines and power lines were hit, regional governors said on Sunday.

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Britain’s defence ministry said Russian strikes at civilian infrastructure, including a power grid and a dam, have intensified over the past seven days.

“As it faces setbacks on the front lines, Russia has likely extended the locations it is prepared to strike in an attempt to directly undermine the morale of the Ukrainian people and government,” it said in a intelligence update.

On Saturday, Ukrainian President Volodymyr Zelenskiy said in a video address that authorities had found a mass grave containing the bodies of 17 soldiers in Izium, some of which he said bore signs of torture.

Residents of Izium have been searching for dead relatives at a forest grave site where emergency workers began exhuming bodies last week. The causes of death for those at the grave site have not yet been established, although residents say some died in an air strike.

Ukrainian officials said last week they had found 440 bodies in the woodlands near Izium. They said most of the dead were civilians and the causes of death had not been established.

The Kremlin has not commented on the discovery of the graves, but in the past Moscow had repeatedly denied deliberately attacking civilians or committing atrocities.

Making his way between graves and trees at the forest site where exhumations were underway, Volodymyr Kolesnyk was trying to match numbers written on wooden crosses with names on a neatly handwritten list to locate relatives who he said died in an air strike in the early days of war. Kolesnyk said he got the list from a local funeral company that dug the graves.

“They buried the bodies in bags, without coffins, without anything. I was not allowed here at first. They (Russians) said it was mined and asked to wait,” he told Reuters on Saturday.

Oleksandr Ilienkov, the chief of the prosecutor’s office for the Kharkiv region, told Reuters at the site on Friday: “One of the bodies (found) has evidence of a ligature pattern and a rope around the neck, tied hands,” adding that there were signs of violent death causes for other bodies but they would undergo forensic examination.

Izium’s mayor said on Sunday that work at the site would continue for another two weeks.

“The exhumation is underway, the graves are being dug up and all the remains are being transported to Kharkiv,” Valery Marchenko told state television.

STILL SCARED

Elsewhere in the region, residents of towns recaptured after six months of Russian occupation, were returning with a mixture of joy and trepidation. read more

“I’ve still kept this feeling, that any moment a shell could explode or an airplane could fly over,” said Nataliia Yelistratova, who travelled with her husband and daughter 80 km (50 miles) on a train from Kharkiv to her hometown of Balakliia to find her apartment block intact, but scarred by shelling.

“I’m still scared to be here,” she said after discovering a piece of shrapnel in a wall.

Russian President Vladimir Putin has not responded to the accusations, but on Friday, he brushed off Ukraine’s swift counteroffensive and that Moscow would respond more forcefully if its troops were put under further pressure. read more

Such repeated threats have raised concerns he could at some point turn to small nuclear weapons or chemical warfare.

U.S. President Joe Biden, asked what he would say to Putin if he was considering using such weapons, replied: “Don’t. Don’t. Don’t. It would change the face of war unlike anything since World War Two.” A clip of comment in an interview with CBS programme “60 Minutes” was released by CBS on Saturday. read more

Some military analysts have said Russian might also stage a nuclear incident at Zaporizhzhia, Europe’s largest nuclear power plant held by Russia but run by Ukrainian staff.

Moscow and Kyiv have accused each other for shelling around the plant that has damaged buildings and disrupted power lines needed to keep it cooled and safe. The plant was reconnected with the Ukrainian electricity grid after one of its power lines has been repaired, the United Nations nuclear watchdog said on Saturday. It warned, however, the situation at the plant “remains precarious.” read more

Ukraine has also launched a major offensive to recapture territory in the south, where it hopes to trap thousands of Russian troops cut off from supplies on the west bank of the Dnipro River, and retake Kherson. Kherson is the only large Ukrainian city Russia has captured intact since the start of the war.

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Reporting by Reuters bureaux
Writing by Lincoln Feast, Raissa Kasolowsky and Tomasz Janowski
Editing by William Mallard, Frances Kerry and Raissa Kasolowsky

Our Standards: The Thomson Reuters Trust Principles.

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British pound hits a 37-year low as UK economy skids

The currency fell below $1.14, its lowest since 1985, after the Office for National Statistics said that retail sales in August dropped 1.6% month-over-month, the biggest decline since December 2021 and significantly worse than economists had expected.

“I think the UK is in recession already,” said Michael Hewson, chief market analyst at CMC Markets UK.

The pound has been hammered by a string of weak economic data, but also the steep ascent of the US dollar, a safe haven investment that sees inflows in times of uncertainty. The greenback is now near its strongest level in about two decades against a basket of top currencies, bolstered by expectations of another big rate hike by the Federal Reserve next week.

But the economic outlook in the United Kingdom means the pound is suffering more than most. It’s lost more than 15% of its value against the dollar this year, compared to a 12% decline in the euro.

A plan by Prime Minister Liz Truss to subsidize energy bills for households and businesses could ease the pain this winter, but may not be enough to restore growth. The Bank of England forecast a lingering recession before her plan was announced.

Investors have also been unsettled by indications that the government will pay for its energy program, which could cost as much as £150 billion ($171 billion), by sharply increasing the UK national debt. Chancellor Kwasi Kwarteng is expected to deliver more details next Friday.

The UK generally imports more than it exports. That means a weaker pound pushes up the cost of fuel, food and other goods, making it even harder for the Bank of England to get prices under control.

The central bank, which is due to make its latest policy announcement on Thursday, has been aggressively hiking interest rates in a determined bid to bring down inflation, which stood at 9.9% in August.

It now faces a huge dilemma: Another big increase in borrowing costs could weigh on the economy even more. Not keeping pace with the Fed, however, could push the pound even lower.

Hewson said he believes the pound will now fall toward $1.10 after breaking the $1.14 mark.

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Rescuers dig for survivors after Russian missiles pound Ukrainian shopping mall

  • Strike on mall not accidental, Zelenskiy says
  • Russian attack on eastern city kills eight: Ukraine
  • G7 leaders promise nearly $30 bln in new aid for Kyiv

KREMENCHUK, Ukraine, June 28 (Reuters) – Firefighters and soldiers searched on Tuesday for survivors in the rubble of a shopping mall in central Ukraine after a Russian missile strike killed at least 18 people in an attack condemned by the United Nations and the West.

Family members of the missing lined up at a hotel across the street where rescue workers set up a base after Monday’s strike on the busy mall in Kremenchuk, in the region of Poltava, southeast of Kyiv.

More than 1,000 people were inside when two Russian missiles slammed into the mall, Ukrainian President Volodymyr Zelenskiy said. At least 18 people were killed and 25 hospitalised, while about 36 were missing, said Dmytro Lunin, governor of Poltava.

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Leaders of the Group of Seven (G7) major democracies, at a summit in Germany, said the attack was “abominable”.

“Russian President Putin and those responsible will be held to account,” they said in a joint statement.

Zelenskiy said in a Monday evening video address that it was “not an accidental hit, this is a calculated Russian strike exactly onto this shopping centre”.

A survivor receiving treatment at Kremenchuk’s public hospital, Ludmyla Mykhailets, 43, said she was shopping with her husband when the blast threw her into the air. read more

“I flew head first and splinters hit my body. The whole place was collapsing,” she said.

“It was hell,” added her husband, Mykola, 45, blood seeping through a bandage around his head.

Russia has not commented on the strike but its deputy ambassador to the United Nations, Dmitry Polyanskiy, accused Ukraine of using the incident to gain sympathy ahead of a June 28-30 summit of the NATO military alliance.

“One should wait for what our Ministry of Defence will say, but there are too many striking discrepancies already,” Polyanskiy wrote on Twitter.

The U.N. Security Council will meet on Tuesday at Ukraine’s request following the attack. U.N. spokesperson Stephane Dujarric said the missile strike was deplorable.

BATTLE FOR LYSYCHANSK

Elsewhere on the battlefield, Ukraine endured another difficult day following the loss of the now-ruined city of Sievierodonetsk after weeks of bombardment and street fighting.

Russian artillery pounded Lysychansk, Sievierodonetsk’s twin city across the Siverskyi Donets River.

Lysychansk is the last big city held by Ukraine in eastern Luhansk province, a main target for the Kremlin after Russian troops failed to take the capital, Kyiv, early in the war.

Eight residents including a child were killed and 21 wounded by shelling when they gathered to get some drinking water in Lysychansk on Monday, Luhansk Governor Serhiy Gaidai said.

There was no immediate Russian comment.

Ukrainian forces controlled the city but its loss was possible as Russia poured resources into the fight, he added.

“They really want this and a lot of reserves are being thrown just for this … We do not need to lose an army for the sake of one city,” he told Reuters in an interview.

Rodion Miroshnik, the ambassador to Moscow of the separatist Luhansk People’s Republic, said Russian troops and their Luhansk Republic allies were advancing westward into Lysychansk and street battles had erupted around the city’s stadium.

Fighting was going on in several villages around the city, and Russian and allied troops had entered the Lysychansk oil refinery where Ukrainian troops were concentrated, Miroshnik said on his Telegram channel.

Reuters could not confirm Russian reports that Moscow’s troops had already entered the city.

Russia also shelled the city of Kharkiv in northeast Ukraine on Monday, hitting apartment buildings and a primary school, the regional governor said. read more

The shelling killed five people and wounded 22. There were children among the wounded, the governor said.

‘AS LONG AS IT TAKES’

Moscow denies targeting civilians in what it calls a “special military operation” in Ukraine, but Kyiv and the West have accused Russian forces of war crimes.

The war has killed thousands, sent millions fleeing, and triggered spikes in global food and energy prices. read more

During their summit in Germany, G7 leaders vowed to stand with Ukraine “for as long as it takes” and tighten the squeeze on Russia’s finances with new sanctions that include a proposal to cap the price of Russian oil. read more

Zelenskiy asked for more arms in a video address to G7 leaders, U.S. and European officials said. He also requested help to export grain and for more sanctions on Russia.

The White House said Russia had defaulted on its external debt for the first time in more than a century as sanctions have effectively cut the country off from global finance.

Russia rejected that, telling investors to go to Western financial agents for the cash, which was sent but bondholders did not receive. read more

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Reporting by Reuters bureaux; Writing by Stephen Coates; Editing by Himani Sarkar, Robert Birsel

Our Standards: The Thomson Reuters Trust Principles.

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Mets use balanced offensive attack to pound rival Phillies

Maybe the Mets really can survive the looming June gauntlet without Jacob deGrom and Max Scherzer. Their lineup seems prepared to slug its way through the brutal stretch of playoff contenders.

The latest evidence arrived Saturday night at Citi Field, when a 8-2 pounding of the Phillies on Fireworks Night exhibited this group’s versatility.

There was a long Jeff McNeil home run and small-ball that produced an early run. The two key middle-of-the-order cogs, Pete Alonso and Francisco Lindor, also came through when called upon, as the Mets beat the Phillies for the eighth time in 11 tries.

They improved to 31-17, equaling their high-water mark of the season and now lead the Braves by a season-high 8 ¹/₂ games in the NL East.

“This is where we want to be,” McNeil said. “We’re putting up a lot of runs, we’re getting a lot of big hits in big situations.”

The Mets are second in baseball in runs scored, behind only the powerhouse Dodgers, and have now scored at least five runs in seven of their last 10 games.

Jeff McNeil belts a three-run homer in the fourth inning of the Mets’ 8-2 win over the Phillies.
Corey Sipkin

Lindor continued his recent hot streak with three RBIs (he has driven in a run in six straight games, a career-high) and two runs scored. Alonso set a Mets record for most RBIs in the month of May with 29, after driving in a run with a sacrifice fly.

McNeil produced the big blow, a go-ahead, three-run homer in the fourth through raindrops, continuing a season-long trend of the Mets responding immediately after falling behind.

After circling the bases following his second-deck bomb into the right-field seats, McNeil strutted to the dugout and went into a dance that has become his new home run celebration. It’s an ode to the character Chazz, played by Will Ferrell, from the movie “Wedding Crashers.”

“Just living the dream right now,” McNeil said, repeating a line used in the film.

Francisco Lindor celebrates after hitting a two-run triple in the fifth inning of the Mets’ win over the Phillies.
AP

The lineup wasn’t even at full strength. Leadoff man Brandon Nimmo sat with a sprained right wrist that required a cortisone shot, but Luis Guillorme filled his role to a T, reaching base in each of his first four at-bats. His bunt single started a three-run fifth inning that ultimately put the game out of reach.

“He knows people get what he brings and appreciate it, and it has put him in a really great frame of mind,” manager Buck Showalter said.

There was no big uprising from the Phillies this time, after they nearly rallied from seven runs down to win Friday. The Mets’ bullpen delivered four shutout innings, two from rookie Colin Holderman, who has yet to allow an earned run over his first six outings spanning eight innings.

The offensive outburst made a winner out of Taijuan Walker (3-0) despite a so-so performance. It was a slog for the right-hander, who was coming off seven shutout innings against the Rockies. His command was off and his location was iffy, but he still limited the Phillies to two earned runs over five innings.

He played with fire in the fourth, allowing four of the first five Phillies to reach base. But after JT Realmuto’s two-run single, Walker retired Odubel Herrera on a pop up. Then, after walking Johan Carmago to load the bases, he got Kyle Schwarber on a fly out. Walker also escaped trouble in the fifth, after allowing consecutive singles to Bryce Harper and Nick Castellanos, when Lindor turned a 6-6-3 double play.

“Sometimes those types of outings are more gratifying than the great outing he had last time out,” Showalter said.

The game was never in doubt from that point on. The Mets kept adding on and clinched the three-game series victory. Most importantly, they are 2-0 on this six-game homestand against the Phillies and the Nationals, which predates a 10-game trip to Southern California to face the Dodgers, Angels and Padres. Altogether in June, the Mets will face likely playoff teams 17 times. The offense seems ready for the challenges that await.

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Russian forces pound key cities as West prepares new sanctions

  • U.S., EU set to ban new investment in Russia
  • Zelenskiy says Bucha killings demand punishment
  • Ukraine reports attacks in south and east

LVIV, Ukraine, April 6 (Reuters) – Russian artillery pounded the Ukrainian cities of Mariupol and Kharkiv on Wednesday as the West prepared more sanctions against Moscow in response to civilian killings that Kyiv and its allies have called war crimes.

The besieged southern port of Mariupol has been under almost constant bombardment since the early days of the invasion that began on Feb. 24, trapping tens of thousands of residents without food, water or power.

“The humanitarian situation in the city is worsening,” British military intelligence said on Wednesday.

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“Most of the 160,000 remaining residents have no light, communication, medicine, heat or water. Russian forces have prevented humanitarian access, likely to pressure defenders to surrender.”

Reuters could not immediately verify the report.

Ukraine’s Deputy Prime Minister Iryna Vereshchuk said authorities would try to evacuate trapped civilians through 11 humanitarian corridors on Wednesday, though people trying to leave the besieged city of Mariupol would have to use their own vehicles. read more

Russian forces last week pulled back from positions outside the capital Kyiv and shifted their assault to the south and east, and Ukraine’s general staff said the northeastern city of Kharkiv, the country’s second-largest, also remained under attack.

Authorities in the eastern region of Luhansk on Wednesday urged residents to get out “while it is safe” from an area that Ukraine also expects to be the target of a new offensive. read more

SANCTIONS PUSH

Western sanctions over Russia’s invasion of Ukraine, described as a “special military operation” by Moscow and the biggest assault on a European nation since World War Two, gained new impetus this week after dead civilians shot at close range were found in the northern town of Bucha after it was retaken from Russian forces.

Moscow denied targeting civilians there and called the evidence presented a forgery staged by the West to discredit it. read more

New sanctions set to be unveiled Wednesday are in part a response to Bucha, the White House said.

Coordinated between Washington, the Group of Seven advanced economies and the European Union, the measures will target Russian banks and officials and ban new investment in Russia, the White House said. read more

Proposed EU sanctions would ban buying Russian coal, prevent Russian ships from entering EU ports, and suspend nearly 20 billion euros ($21.77 billion) worth of trade.

EU executive chief Ursula von der Leyen said the bloc was working on banning oil imports as well as part of a plan to end its dependence on Russian energy. read more

Europe obtains about a third of its natural gas from Russia and Ukraine says banning Russian gas is vital to securing a deal to end the war in peace talks.

After an impassioned address to the UN Security Council on Tuesday, Zelenskiy said new sanctions against Russia “must be commensurate with the gravity of the occupiers’ war crimes,” calling it a “crucial moment” for Western leaders.

New Zealand said on Wednesday it would impose a 35% tariff on all imports from Russia and extend export bans on industrial products connected to strategic Russian industries.

“The images and reports emerging of atrocities committed against civilians in Bucha and other regions of Ukraine is abhorrent and reprehensible,” Foreign Minister Nanaia Mahuta said in a statement.

The United States has agreed to provide an additional $100 million in assistance to Ukraine, including Javelin anti-armour systems, the Pentagon said on Tuesday.

U.S. chipmaker Intel Corp (INTC.O) said it had suspended business operations in Russia, joining a growing list of companies leaving the country. read more

BUCHA BURIAL

Ukrainian officials say between 150 and 300 bodies might be in a mass grave by a church in Bucha, north of the capital Kyiv.

Satellite images taken weeks ago show bodies of civilians on a street in the town, a private U.S. company said. read more

Reuters reporters saw at least four victims shot through the head in Bucha, one with their hands tied behind their back.

Residents have recounted cases of several others slain, some shot through their eyes and one apparently beaten to death and mutilated. read more

Since launching an invasion that has uprooted a quarter of Ukraine’s population, Russia has failed to capture a single major city.

($1 = 0.9186 euros)

(This story was refiled to remove parentheses in paragraph 2)

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Additional reporting by Reuters bureaus; Writing by Rami Ayyub, Michael Perry and Tomasz Janowski; Editing by Lincoln Feast and John Stonestreet

Our Standards: The Thomson Reuters Trust Principles.

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Peng Shuai: ‘Unanimous conclusion’ that tennis star is ‘fine,’ says IOC member Dick Pound

The European Union on Tuesday said it wants China to release “verifiable proof” that Peng is safe and to conduct a thorough and transparent investigation into her sexual assault allegations against former Vice Premier Zhang Gaoli.

One of China’s most recognizable sports stars, Peng publicly accused Zhang of coercing her into sex at his home, according to screenshots of a since-deleted social media post dated November 2.

Following the accusation, Peng disappeared from public view, prompting several fellow tennis players to express worry on social media, using the hashtag #WhereIsPengShuai.

On November 21, the IOC said in a statement that its president, Thomas Bach, had a 30-minute video call with three-time Olympian Peng, joined by a Chinese sports official and an IOC official.

The statement said that, during the call, Peng appeared to be “doing fine” and was “relaxed,” saying she “would like to have her privacy respected.” The IOC did not explain how the video call with Peng had been organized and has not made the video publicly available.

The European Union has commented that Peng’s “recent public reappearance does not ease concerns about her safety and freedom.”

When asked on how he can ever be sure Peng Shuai’s appearances aren’t staged, Pound, who has not seen footage of the call, told CNN’s Erin Burnett: “There are lots of countries where you can’t easily leave the country. I think a lot of that is speculation.”

Speaking of those on the call, he said: “What we have is hard evidence as we can have and feel. These are people who have dealt with athletes and dealt with pressure.

“They can tell whether somebody is behaving under duress or not.

“Their unanimous conclusion was that she was fine. And she just asked that her privacy be respected for the time being,” he said.

Pound previously told CNN’s Christiane Amanpour he was “puzzled” by the reaction to a video call between Peng and IOC President Bach.

He said that the IOC’s assessment of Shuai was “the best evidence we have at the moment.”

“I would rely on the combined judgment of colleagues,” Pound said, adding that it was “a conversation between four Olympians,” and that his colleagues would have noticed if the conversation wasn’t “relaxed.”

Human Rights Watch China Director Sophie Richardson denounced the IOC’s role in collaborating with Chinese authorities on Peng’s reappearance, while the head of the Women’s Tennis Association (WTA), Steve Simon, said the IOC’s intervention is insufficient to allay concerns about Peng’s safety.

Peng’s case has also raised difficult diplomatic questions for China, which will host the 2022 Winter Olympics between February 4 and 20.

Late last month, China’s Ministry of Foreign Affairs said that the government hoped “malicious speculation” regarding Peng’s well-being and whereabouts would stop, adding that her case should not be politicized.

Chinese authorities have not acknowledged Peng’s allegations against Zhang, and there is no indication an investigation is underway. It remains unclear if Peng has reported her allegations to the police.

Zhang has kept a low profile and faded from public life since his retirement in 2018, and there is no public information relating to his current whereabouts.

Before retiring as vice premier, Zhang was the head of a Chinese government working group for the Beijing Games. In the role, he inspected venues, visited athletes, unveiled official emblems and held meetings to coordinate preparation work.

Zhang previously met with IOC President Bach on at least one occasion, with the two being photographed together shaking hands in the Chinese capital in 2016.

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Peng Shuai: IOC member Dick Pound ‘puzzled’ by reaction to tennis player’s video call

The video call comes after Peng, one of China’s most recognizable sports stars, publicly accused former Vice Premier Zhang Gaoli of coercing her into sex at his home, according to screenshots of a since-deleted social media post dated November 2.
Following the accusation, Peng disappeared from public view, prompting several fellow tennis players to express worry on social media, using the hashtag #WhereIsPengShuai.

The IOC has not made the video publicly available and did not explain how the call was organized. It instead released an image of the call and a statement saying Peng is “safe and well, living at her home in Beijing, but would like to have her privacy respected at this time.”

Earlier this week, Human Rights Watch China Director Sophie Richardson denounced the IOC’s role in collaborating with Chinese authorities on Peng’s reappearance, while the head of the Women’s Tennis Association (WTA), Steve Simon, said the IOC’s intervention is insufficient to allay concerns about Peng’s safety.

“I must say I’m really puzzled by that assessment of it,” Pound told CNN’s Christiane Amanpour in response to the criticism.

“Basically, lots of people around the world were looking to see what happened to Peng Shuai and nobody was able to establish contact.

“Only the IOC was able to do so, and there was a conversation that was held by video with Thomas Bach, who’s an older Olympian, and two younger female IOC members. Nobody’s released the video because I guess that aspect of it was private.

“They found her in good health and in good spirits and they saw no evidence of confinement or anything like that.”

Pound added that he has not seen a recording of the video call, but is “simply relying on the combined judgment of the three IOC members who were on the call.”

Peng was joined on the call by a Chinese sports official who formerly served as the Communist Party secretary of the Chinese Tennis Administration Center.

Pound also denied that there is any potential conflict of interest between the IOC and the Chinese government with the Beijing Winter Olympics set to begin in February.

“We don’t really have links with the Chinese government,” said Pound.

“We’re pretty careful about compartmentalizing the organization of the Olympics. These are not government Games. These are IOC Games, and there’s an organizing committee that is responsible for that.”

The WTA and the United Nations have called for a full investigation into her allegations of sexual assault.

“The first thing you have to do is figure out what was she trying to accomplish with the post,” Pound said of Peng’s deleted social media post.

“Was it just to tell her story or did she want an investigation and [drop] consequences if she was able to establish the coercion?”

Last weekend, several people connected to Chinese state media and sport system tweeted photos and videos they say show Peng out to dinner on Saturday and at a tennis event for teenagers in Beijing on Sunday.

Throughout the videos Peng says very little but is seen smiling. CNN cannot independently verify the video clips or confirm when they were filmed.

On Tuesday, China’s Ministry of Foreign Affairs said that the government hoped “malicious speculation” regarding Peng’s well-being and whereabouts would stop, adding that her case should not be politicized.

Chinese authorities have not acknowledged Peng’s allegations against Zhang, and there is no indication an investigation is underway. It remains unclear if Peng has reported her allegations to the police.

Speaking at a news conference on Tuesday, Chinese Foreign Ministry spokesperson Zhao Lijian reiterated that Peng’s accusation is not a diplomatic issue and declined to comment further. CNN has reached out to China’s State Council Information Office, which handles press inquiries for the central government.

Zhang has kept a low profile and faded from public life since his retirement in 2018, and there is no public information relating to his current whereabouts.

Before retiring as vice premier, Zhang was the head of a Chinese government working group for the Beijing Games. In the role he inspected venues, visited athletes, unveiled official emblems, and held meetings to coordinate preparation work.

Zhang previously met with Bach, the IOC president who held a video call with Peng, on at least one occasion, with the two being photographed together shaking hands in the Chinese capital in 2016.

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Giant 4,000 pound sunfish was rescued from a fishing net off the Spanish coast of Ceuta

The mammoth sunfish measured 10.5 feet long and 9.5 feet wide. Enrique Ostale, who leads the University of Seville’s Marine Biology Lab in Ceuta, estimated that it weighed about 4,400 pounds, based on comparisons with other catches.

“We tried to weigh it, but we just had a scale up to one thousand kilograms, and in this case, we couldn’t use it because it was going to break,” he told CNN in Spanish.

Ostale told CNN that his research team has been working with local almadraba fishermen, who use nets attached to boats to catch fish like tuna, for four years to study sunfish. Based on their catch, the fishermen and researchers select what interests them while returning the other species to the sea. However, in this instance, the fishermen alerted Ostale and his team — who were working on a study of invasive algae at the time — to quickly come over and see the massive catch.

Because the animal was so heavy, the researchers used a crane to lift it after being isolated in an underwater chamber attached to the boat. They then measured its dimensions and took close pictures and DNA samples.

“We had seen it in a book and in scientific articles, and to have it there, to tell you the truth, I was very impressed,” Ostale said. “Above all, you also have to imagine the stress that is created in the aspect that we are at sea, we are on a boat, the animal is alive, we have to pass it quickly in the open sea while nobody gets hurt.”

According to Ostale, while there have been sunfish recorded in other parts of the world that are this size, fishermen and other researchers had not seen one nearly as large near his research center. The sunfish had dark gray skin and rounded grooves in its flanks, which led Ostale to think it was of the species Mola alexandrini.

“I see, on one hand, the luck of finding it and finding it alive, and enjoying it, and swimming with it,” he said. “On the other hand, we also were lucky since it was difficult to manage with the cranes, because we have to think that we were on a boat, that we were in the middle of the sea, and an accident can always happen.”

The ‘great oddballs’ of the ocean

According to Dr. Tierney Thys, a marine biologist and research associate at the California Academy of Sciences, the Mola alexandrini is “truly one of the ocean’s great oddballs.” Thys told CNN in an email that while its external appearance might appear cumbersome, it moves through the water with graceful winglike strokes from its long dorsal and anal fins, as though “flying like a bird on its side.” The Mola are the only known marine creatures that can generate lift in this way.

While the species Mola mola, or common sunfish, has been studied more extensively than Mola alexandrini, the latter has taken over many measurement records. According to Ostale, Mola alexandrini have rather robust heads, but they lack tail fins.

According to Thys, the sunfish discovered in Ceuta was likely more than 20 years old and most likely is a female, since no large males greater than two meters have been found so far.

The world record weight of a sunfish goes to a specimen from Japan with a total length of 272 centimeters, or about nine feet, who weighed a whopping 2,300 kilograms, or 5,070 pounds. The longest specimen on record, though, is 332 centimeters, or almost 11 feet, but it was never formally weighed.

Mola alexandrini may likely spawn close to the waters where this one in Ceuta was found. They may also spawn off New South Wales, Australia, and they have been known to travel thousands of kilometers — including from Taiwanese waters to New Caledonia.

According to Thys, the field of ocean sunfish research is very active, and a species called Mola tecta was named a couple of years ago.

Although researchers don’t know how long Mola alexandrini can survive after spending time in the nets — and know little about their population structure or life span — Thys is grateful that the fish was returned safely to the water that day where it can “eat jellies, ply the waters, (and) live its wondrous life and spark wonder and awe in more people.”

“This individual is a colossal reminder that our world ocean still holds many mysterious surprises including massive marine megafauna which cause us to gasp with wonder and awe,” Thys wrote. “Big headed behemoths like this ocean sunfish can act as potent ambassadors to pique our curiosity, inspire greater understanding and fuel public desire to be better stewards of our marine ecosystems which are our planet’s life support system.”

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